Legislative Report…Daniel Nnorth and Claudia Schott

Let’s talk about the Department of Labor’s (DOL) Fiduciary Rule delay. Apparently then-President Obama asked that the DOL set up a rule that made retirement advisors put the needs of their clients first, before any financial gain to themselves. (Huh, go figure.) This rule was written, approved and signed by April of 2016. It was supposed to go into effect this month. However, during the first session of congress this year, Representative Joe Wilson (R, S.C.) introduced a bill that would delay the fiduciary Rule by two years. This was probably due to more protests from the financial industry groups. They had already protested vehemently back in 2010, stating regulatory costs, liability costs and client concerns were going to be a problem especially since the Fiduciary Rule set a much higher standard than the suitability standard from 1974. (This was way overdue to be overhauled, folks.)

Many industry groups have already jumped onboard with the new plan, including the CFP Board, the Financial Planning Association (FPA), and the National Association of Personal Financial Advisors (NAPFA). Supporters applauded the new rule, saying it should increase and streamline transparency for investors, make conversations easier for advisors entertaining changes, and most of all, prevent abuses on the part of financial advisors, such as excessive commissions and investment churning for reasons of compensation. A 2015 report by the White House Council of Economic Advisers found that biased advice drained $17 billion a year from retirement accounts.

However, the legislation has met with staunch opposition from other professionals, including brokers and planners. Financial advisors would rather be held to a “suitability” standard than a “fiduciary” standard because the latter will cost them money – in lost commissions and the added expense of compliance. The stricter fiduciary standards could cost the financial services industry an estimated $2.4 billion per year by eliminating conflicts of interest like front-end load commissions and mutual fund 12b-1 fees paid to wealth management and advisory firms.

Now this delay is costing us folks money and we need to do something about it, since the main impact is on retirement accounts and IRA’s. Three lawsuits have been filed against the Fiduciary Rule and it can be stopped. Not something we want. I believe we need to talk to our representatives and Senators and get the ball rolling again to keep the new standard from falling through the cracks.

Program…Gene Lennon

If we are “vintage” enough for AARP…..we’ve gathered a lot of wit and wisdom along the way! Yes, the younger generations really do want to hear about our life learnings and experiences.The key is the fine art of sharing a story. How can we inspire others with what we have learned and accomplished with stories metaphors and humor?

Scottish storyteller and author Danni Burton was a motivational speaker, trainer, business /career mentor and advisor. For over 40 years she shared stories to inspire her clients, students and audiences around the globe.

Today she is the author of 2 books, with 110 inspirational stories collected from folks 21 to 105 Her next book will be collected stories from youth 9-19. And, she mentors other “vintage” folks to share and write their legacies.


APRIL 18 MEETING IN Q80 10:00 a.m.

Social Time 9:30 a.m.

Please bring books to share. Leave clean clothing and bedding and nonperishable food for Sacred Heart on the bench outside. Please do not bring garage sale type items for Sacred Heart. Put new and used greeting cards in the box on the troop table. Bring your items for the GI’s into the meeting area. Put your volunteer hours in purple envelope at sign-in table.

Lunch after meeting:

Taste of China

1659 Branham Ln (at Ross) SJ   408.448.3748



The Fine Art of Sharing A Story

President’s Message…Ken Schieck

April brings Easter and Passover celebrations this year. So happy Easter bunnies, egg hunts, and Easter parades, as well as Seders, charoseth and family stories. Remember, too, the deeper meanings of each of these feasts. With the recent defeat of the American Health Care Act in the House of Representatives, supporters of Obamacare can breathe more easily. If Congress or the president bring up this issue again, it will probably be at least a year before it happens. At the March meeting, one of the concerns that Liz Gibbons raised was the reduction of transportation outreach to seniors. There is an article in the March 24 issue of the Campbell Reporter which describes a pilot program for West Valley seniors that is sponsored by the County. The cities in the West Valley group are Los Gatos, Saratoga, Cupertino and Campbell. Look for this article on the front flag table at the general meeting. The Jewish Community Center of Los Gatos will host AARP mature driver and refresher courses in April, May and July. Look for flyers again on the flag table at the general meeting. I thank those of you who supported the Orchard City Community Chorus and the other choirs/ choruses who performed Mar. 10 at Campbell United Methodist Church for Next Door Solutions; the organization raised over $4000. Today was opening day for the SF Giants, and it seems like one of the problems they had last year is still with them. The bullpen blew a 4-3 lead in the eighth inning, leading to an eventual 6-5 loss in the bottom of the ninth to the Arizona Diamondbacks.

Senior Walk

12th Annual West Valley Senior Walk

The 12th Annual West Valley Senior Walk will take place this year on Friday April 14th at the Westfield Valley Fair Mall (2855 Stevens Creek Blvd) from 8:00am to 10:00am.  FREE Registration, Breakfast, Prizes and more!  8am Registration and Breakfast and 9am is the Walk and Resource Fair.  Parking in NEW Monroe St. Garage.  For more information call 408.535.4901 or email rose.dhaliwal@sanjoseca.gov

Santa Clara County Veterans Resource Fair 2017

Santa Clara County Veterans Resource Fair 2017 – Saturday April 8 
Only a few days to go before the coolest Veterans Resource Fair on the planet, right here in our own backyards at the Santa Clara County Fairgrounds! We want to reach every veteran in the county and invite them to the resource fair. So we need your help spreading the word to veterans throughout the Bay Area, especially in Santa Clara County. Please forward to every contact list that could include veterans or their family, friends or coworkers.

The San Jose Vet Center Resource Fair Advisory Council is pleased to announce the upcoming 12th Annual Veterans Resource Fair to be held on Saturday, April 8, 2017 at the Santa Clara County Fairgrounds Fiesta Hall from 10 AM to 3 PM.

A record number 80+ service providers are signed up for the Veterans Resource Fair this year. Services offered include veteran benefits counseling, employment opportunities, medical and housing needs, community agency support services, and education benefits. The attendees are offered FREE lunch, child care and parking. Veteran online signup, a complete list of service providers, and more info:    http://www.regathon.com/
Flier is online:  http://www.regathon.com/veterans/ fliers/flier.pdf Questions: contact veterans@regathon.com  

Opportunity Tickets

Opportunity Tickets…Barbara Robinson
April drawings at three for $1 are:

TASTE OF CHINA $10 Gift Card 1659 Branham Lane (at Ross Ave) SJ 408.448.3748 (Thanks to Libby Harbour)
(Thanks to our AARP Treasure Chest Funds)
CAMPBELL EXPRESS (2) (Thanks to Mr. Hansen)

March winners were:
Harry’s Hofbrau—Robin Connelly
Dickey’s BBQ –  Maribel Santos
Weekend Coffee Roasters –  Norm Schwartz &
Ralph Pfirrman
Campbell Express – Libby Harbour


Sunshine…Irene Elardo

Get Well cards were sent out to the following people this month:  Anne Hootman,  Dee Morgan, Paddy Wray, Betty Levy